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Sunway REIT Partners With OCBC Bank For Sustainability-linked Bonds (The Star)

December 7, 2021 – SunREIT Unrated Bond Bhd (SUB) has issued the first tranche of Sustainability-Linked Bonds (SLBs) as part of Sunway Real Estate Investment Trust’s (Sunway REIT) inaugural sustainable financing exercise in partnership with OCBC Bank (Malaysia) Bhd.

In a joint statement today, they said the SLBs feature a pricing adjustment mechanism benchmarked against the achievement of predetermined Sustainability Performance Targets (SPTs).

The SPTs measure the improvement in Sunway REIT’s sustainability goals, including sourcing energy requirements and achieving and maintaining a minimum Building Energy Intensity (BEI) score.

“Through this sustainable financing exercise, we are able to demonstrate a clear parallel between the achievement of our environmental, social and governance (ESG) target, and the optimisation of our financing cost.”

“The success of this SLB issuance represents the next big step for Sunway REIT to integrate ESG practices at the heart of its financing strategy,” Sunway REIT Management Sdn Bhd chief executive officer (CEO) Datuk Jeffrey Ng said.

Read more here..

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